Crypto seems to be coming back to its old form after seeing a couple of months of highly bearish movements primarily due to the FUD caused by the Chinese crackdown on the crypto mining industry across the country and Elon Musk’s energy concern over bitcoin mining. Ethereum crossed the $3000 mark, and Bitcoin is rallying to $45,000 first time in 3 months after May 2021. Prices of coins have soared across the board as sentiments continue to skew in the positive. Investors seem to be pouring back into the market, with the market showing patterns that indicate current buy pressure trends are higher than sell pressures.
Among other good news, Coinbase made an announcement recently that it has integrated Apple Pay, the most secure and safer way for users to buy crypto on its platform. Buying with Apple Pay was not an option on Coinbase earlier. In June 2021, Coinbase had integrated Coinbase Crypto Card with Apple Pay and Google Pay which allowed users to spend their crypto using these cards.
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With this new payment option, Coinbase users can now buy crypto with the world’s most trusted, secure, and widely accepted digital wallet Apple Pay. Apple Pay will start appearing on your payment options page if you already have a VISA or Mastercard linked in your Apple Wallet. In addition to this, users will also be able to get instant cashouts of up to $100,000 on a single transaction.
Coinbase is the first crypto exchange that has made this option available for users on the platform on a 24×7 basis, which means that users will always have access to cashouts, and this process is instant via Real-Time Payments (RTP). This bypasses the high, uncapped fees that are charged to customers when using ACH (Automated Clearing House) to cash out and take up to 5 days to move through the pipes of the traditional financial network. Also, there are no limits on the number of times users can cash out per day.
Coinbase also stated that Google pay payment option will be available to users later this year. Google Pay is used by 150 million people across 40 countries and provides an additional level of security as purchases use a combination of virtual account numbers and encryption for security and peace of mind when users buy crypto on Coinbase. These new payment options would add to the existing list of ways users cloud already purchase crypto on Coinbase that included wire transfer, debit card, Coinbase USD wallet, connected Paypal account, and now with Apple Pay linked to VISA or Mastercard.
Coinbase continues to innovate in the crypto space with global access to cryptocurrency remains a key focus area for the company. Coinbase currently allows users to purchase crypto using Visa and Mastercard credit and debit cards in over 20 countries and plans to reach more countries as time progress.